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Question 201575: New Worth. Melanie's house is worth $125,000.00, but she still owes $78,422 on her mortgage, She has $21,236 in a savings account and has $9477 in credit card debt. She owes $6131 to the credit union and figures that her cars and other household items are worth a total of $15,000.00. What is Melanie's new worth?
I really have no clue and am getting answers from different ppl I just want to know how to do this question so i can move on so it will give me an example on the questions I DO need to do thank you
Answer by Earlsdon(6294)   (Show Source):
You can put this solution on YOUR website! It's just a matter of adding up the amounts that Melanie has (+) and subtracting the amounts that she owes (-):
Let's do a list of Melanie's assets (the things that she owns).
House..............$125,000.
Savings.............$21,236.
Personal property...$15,000.
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Total assets.......$161,236.
Now her debts (amounts that she owes)
Mortgage...........$78,422.
Credit card debt....$9,477.
Credit Union debt...$6,131.
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Total debt.........$94,030.
Now subtract her total debt from her total assets to find Melanie's new worth.
New worth = $161,236 - $94,030 = $67,206.
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